P1 C9 Ledger-Posting — Account STD 11 Commerce — Question

Ledger is a book of accounts in which various accounts, which are created from the transactions recorded in journal and subsidiary book are maintained. Necessity : Ledger is a book in which all the accounts are opened which are created from journalor from subsidiary books. And posting is done of all these accounts from the journal or subsidiarybooks. Trader is not in a position to get certain answers of questions like. How much is salespurchase ?Incomes ?or Exp.? etc from jounral or subsidiary books. Answer of these type of questionsessential for the business. Which one can get from the Ledger. That is why ledger is known as principal book or king of books in accounts. Main aim of maintaining books of accounts is not to record only economic transactions,but to know the result and financial position of business. (Which can be easily and quickly possible with the help of Ledger.)